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Bengaluru-Based Gaming Start-Up STAN Secures $2.7 Million Pre-Series A Funding

STAN aims to use the newly injected capital to democratise infrastructure for creators, with a focus on employing AI to build a seamless community architecture and improving personalisation for users

Bengaluru-Based Gaming Start-Up STAN Secures $2.7 Million Pre-Series A Funding
Parth Chadha, co-founder of STAN
POSTED ON January 23, 2024 4:03 PM

Bengaluru-based gaming start-up STAN has raised $2.7 million in its Pre-Series A funding round. The funding round saw participation from prominent new investors in Aptos Labs, Pix Capital, Maelstrom Fund, GFR Fund, and returning investors in General Catalyst, signifying enhanced interest from global investors in the Indian gaming industry.  

The round also was supported by CoinDCX Ventures, Climber Capital, TDV Partners, and Coinswitch Ventures. 

The company raised $2.5 million in May 2022 as part of its sееd funding led by General Catalyst, with participation from Bеttеr Capital, and Eximius Vеnturеs, among others.  

The newly raised fund will be devoted towards building infrastructure for the creators, leveraging AI to develop a fluid community architecture, and facilitating personalization for users, the company said in its statement. 

Speaking on the fundraiser, Parth Chadha, co-founder of STAN said, “The Indian market today presents a lot of challenges for the creators to monetise from their followers and these creators have to move to multiple platforms to be able to learn and push for monetisation. Stan intends to tap into the creator supply and help them grow their fanbase and monetize on Stan from Day 1."  

Anand Chandrasekaran, partner, at General Catalyst shared, " In a macro environment where esports has now been duly recognised as a sport in India, General Catalyst is excited to continue to support the team." 

Akshat Rathee, founding investor, STAN said- “I am excited in welcoming our new and returning investors in backing the venture in its next phase of growth” 

STAN is the premier global game's companion app, with over 4 million users within 1.5 years. With organic growth, 75 per cent of the users hail from broader Bharat, including tier 2 and tier 3 cities. The platform said that it has seen 50 million annualised microtransactions with 70 per cent retention for paying users.  

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